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grover norquist joins us now. so you said that voting for this deal which increases taxes on house holds earning more than $450,000 annually would not violate your pledge that lawmakers made to their constituents. help our viewers understand that because lawmakers who signed that pledge they vow to oppose any increasing of tax rates for individuals for businesses. how does the fiscal cliff deal not violate that pledge? >> it's technically not a violation of the pledge. but i understand why a lot of republicans had said, look, even though what's happening is the tax cuts disappear and we're restoring them for most people, so we're not raising taxes, we're actually cutting taxes -- >> you're saying because the bush tax cuts have expired yesterday. >> yes. >> so basically they expired yesterday, so technically these are still tax cuts? >> correct. i understand, and i understand if you're a congressman or senator you've got to go out and convince not me that you've technically not violated the pledge, you have to conv
grover norquist joins us now. so you said that voting for this deal which increases taxes on house holds earning more than $450,000 annually would not violate your pledge that lawmakers made to their constituents. help our viewers understand that because lawmakers who signed that pledge they vow to oppose any increasing of tax rates for individuals for businesses. how does the fiscal cliff deal not violate that pledge? >> it's technically not a violation of the pledge. but i understand...
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they cannot cross over the threshold that has been built by grover norquist. >> grover norquist joins us now exclusively here on cnbc. grover, we just heard you are the target of those comments, but did harry reid get it wrong, because i thought that your organization actually gave its blessing to boehner's plan "b." >> reid has it wrong on a number of levels. the first, of course, is that the pledge that many congressmen and senators have made to oppose tax increases is made to the people of their state, not to me. in fact, harry reid now has the republican senator joining him from nevada who won because he made that commitment. he took the pledge, and the democrat that harry reid supported attacked him for taking the pledge, and the people of nevada said we want a senator who will stand with us against harry reid's tax increases, so -- and, of course, the issue that came up with plan "b" which was mr. boehner's recommendation that we pass something out of the house which would stop all the tax increases on anyone who earned less than $1 million permanently, was something that didn't
they cannot cross over the threshold that has been built by grover norquist. >> grover norquist joins us now exclusively here on cnbc. grover, we just heard you are the target of those comments, but did harry reid get it wrong, because i thought that your organization actually gave its blessing to boehner's plan "b." >> reid has it wrong on a number of levels. the first, of course, is that the pledge that many congressmen and senators have made to oppose tax increases is...
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they have stuck with their grover norquist position they're not going it raise taxes on anybody. when the whole plan "b" thing went up, they passed some spending stuff barely and when we were supposed to deal with the tax stuff at a million they couldn't even bring it up for a vote. i have no idea what mitch mcconnell is talking about. it seems to be nothing more than political posturing, but i want to say nobody is trying to put this on john boehner. it's on boehner. he's the speaker, and so it's not of a political bringsmanship or gamesmanship. it's the fact. >> it seems the strategy here, boehner obviously kind of said and i think he's been called out for this, said it's up to the president and the senate. i give up, we're leaving town. i guess now they're going to come back sunday, as if that's going to create some sense of urgency. what strikes me is the message that continues to come forward is the american people are going to -- believe that the president and democrats are showing real leadership and they will blame the republicans if this deal goes south, and yet when you
they have stuck with their grover norquist position they're not going it raise taxes on anybody. when the whole plan "b" thing went up, they passed some spending stuff barely and when we were supposed to deal with the tax stuff at a million they couldn't even bring it up for a vote. i have no idea what mitch mcconnell is talking about. it seems to be nothing more than political posturing, but i want to say nobody is trying to put this on john boehner. it's on boehner. he's the...
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we talked to steven moore, grover norquist, pat toomey. some just think taxes should never go up on people. others think if you increase taxes it will hurt the economy. that may actually have some truth to it. but there's a tone deafness out there that has now superseded all of this, congressman, and it is -- we just heard mitch mcconnell, i don't know why people say things like this, but they make people wonder about legislators saying on the floor of the senate, i worked all day saturday to get this thing done. there's been -- i can't say this enough times. you have had 516 days to get this done and you have had 12 years to deal with the bush era tax cuts. what's the problem? >> you know, ali, i can't agree with you more. we actually passed a budget in the house back in the springtime, passed it to the senate. the senate was unable to pass a budget at all. they actually voted down the president's budget 97-0. so while the democrats are talking so much about the president's leadership, they did not support him back in the spring. in augus
we talked to steven moore, grover norquist, pat toomey. some just think taxes should never go up on people. others think if you increase taxes it will hurt the economy. that may actually have some truth to it. but there's a tone deafness out there that has now superseded all of this, congressman, and it is -- we just heard mitch mcconnell, i don't know why people say things like this, but they make people wonder about legislators saying on the floor of the senate, i worked all day saturday to...
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number two, we've got grover norquist versus the gop. and here's what's fascinating. he's been a major player, a huge figure, and yet the push back has been growing. the tide has been swelling. take a look at this montage clip of republicans pushing back on grover norquist in the atr pledge. >> i'm not obligated on the pledge. >> when you're $16 trillion in debt, the only pledge we should be making to each other should be avoid greed. >> i never signed the pledge. >> he's becoming irrelevant. you can see it in his eyes. he knows the game is up. >> a pledge you sign 20 years ago, 18 years ago, is for that congress. >> i'm going to be the one to determine what a tax increase is. grover norquist is not going to determine what a tax increase is. >> message seems clear. don't fear the grover. that echoes throughout the upper echelons of the gop. >> boehner tput tax revenues on the table and we heard nothing from norquist. this is a false drama, manufactured by people like you who can't stand norquist. >> people like me? >> the fiscal cliff is a big deal because it's kind o
number two, we've got grover norquist versus the gop. and here's what's fascinating. he's been a major player, a huge figure, and yet the push back has been growing. the tide has been swelling. take a look at this montage clip of republicans pushing back on grover norquist in the atr pledge. >> i'm not obligated on the pledge. >> when you're $16 trillion in debt, the only pledge we should be making to each other should be avoid greed. >> i never signed the pledge. >>...
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norquist, a very bright guy still resolutely saying a pledge is a pledge is a pledge, it cannot be broken when many of your own party are now saying you know, what it doesn't make sense to have this irresolute position anymore. >> two things, the pledge is not for life. but everybody who signed the pledge, including peter king, who tried to weasel out of it -- shame on him as the "new york sun" says tonight. i hope his wife understands commitments last a little longer than two years or something. >> whoa, hang on, hang on. that was a bit below the belt, grover. >> hey furks think a commitment is not for as long as you make it it for, the commitment for the pledge as peter king well knows when he signed it is as long as you're in congress you will reign in spending and reform government, not raise taxes. it not for 500 years or two generations. it's only as long as you're in the house or the senate. if he stayed too long, that's his problem. but you don't tell the bank, other, the mortgage, wasn't that long time ago? if you make a commitment, you keep it. >> coming up, was mitt romney done
norquist, a very bright guy still resolutely saying a pledge is a pledge is a pledge, it cannot be broken when many of your own party are now saying you know, what it doesn't make sense to have this irresolute position anymore. >> two things, the pledge is not for life. but everybody who signed the pledge, including peter king, who tried to weasel out of it -- shame on him as the "new york sun" says tonight. i hope his wife understands commitments last a little longer than two...
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the tax man is here, grover norquist, president of americans for tax reform, joining us now. thank you very much. happy new year. >> happy new year. >> why were you in favor of this? it's the first tax increase republicans have voted for in 20 years. >> no republican voted for a tax increase. what happened is obama had the demaclese over the american people, unless the house senate and president voted on something. >> the bush tax cuts had set to expire. >> they were set to expire two years ago and obama extended them for two years without change for everybody, for himself and everyone else. then he said he was worried about the economy and he didn't want to kill jobs. now that his job was safely protected, he's less understood what happened to the economy, the tax increases that he insisted on, all the republicans in the house and the senate who voted more than once to extend the bush tax cuts for everybody permanently, so the republicans are quite clear. they want the tax cuts extended for everyone. the president insisted on taking them away from some people. that will hurt
the tax man is here, grover norquist, president of americans for tax reform, joining us now. thank you very much. happy new year. >> happy new year. >> why were you in favor of this? it's the first tax increase republicans have voted for in 20 years. >> no republican voted for a tax increase. what happened is obama had the demaclese over the american people, unless the house senate and president voted on something. >> the bush tax cuts had set to expire. >> they...
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. >> i want to hear from grover norquist because this logic is fantastic. passed by congress that raises taxes for the higher earners, extends tax cuts for many americans. the president reviewed a copy of the bill while vacationing in hawaii before directing it to be signed via auto pen. that's the signature machine that the presidents sometimes use while away from washington, far from a bipartisan public signing ceremony. look at this. >> it was special. he wanted to capture it. it was special. >> back at the capitol -- >> in wisconsin they were thinking about signing civil rights legislation with his hands, then decided use the auto pen. looks better for the history books. >> on the jetsons. >> there are several major issues -- >> rosie, by the way. >> -- awaiting the president's return including the impending fight over the debt ceiling. >> it's going to be ugly. >> meanwhile, grover norquist sat down with andrea mitchell yesterday where he insisted that republicans who backed the fiscal cliff deal did not, in fact, vote to increase taxes. >> no republic
. >> i want to hear from grover norquist because this logic is fantastic. passed by congress that raises taxes for the higher earners, extends tax cuts for many americans. the president reviewed a copy of the bill while vacationing in hawaii before directing it to be signed via auto pen. that's the signature machine that the presidents sometimes use while away from washington, far from a bipartisan public signing ceremony. look at this. >> it was special. he wanted to capture it. it...
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norquist gives a thumbs up to up? >> i don't think that was the strategy a week ago. i think the speaker was trying to put the deal together, as we've seen the senate not -- i think that may become the strategy. i've always thought they would wait until the last hour, put a band eight on it, but wait until the iii so they can vote for a tax cut makes sense as well. >> marjorie, there will be people on the left looking at this. this is basically a clean late. does the left look at this as a way for the president to stand firm in the fact that in one federal voice he was reelected on taxes going up. so is this going to be palatability to the left if the president is standing firm? >> absolutely. you've seen his numbers have increased since the election and also increased in how people view his handling of the fiscal cliff, while attitudes towards republicans are consistently bad and the blame and disapproval is only growing for them. it's costing them in the polls and at the polls this crisis of leadership, this consist
norquist gives a thumbs up to up? >> i don't think that was the strategy a week ago. i think the speaker was trying to put the deal together, as we've seen the senate not -- i think that may become the strategy. i've always thought they would wait until the last hour, put a band eight on it, but wait until the iii so they can vote for a tax cut makes sense as well. >> marjorie, there will be people on the left looking at this. this is basically a clean late. does the left look at...
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a lot of members, too, signed the no tax pledge that many of you know grover norquist pushed around and used as a threat. you better sign the no tax pledge. my radio show launched yesterday and i had grover on because he said it was a win for republicans. though it was a tax increase it wasn't violation of the pledge. listen. >> la of the of these guys signed your penal. how did you lose the guys? they broke your pledge? >> that is what the president is trying to get them to say to vote for tax increase in future. >> it's crystal clear now that republicans can't all be trusted not to raise taxes. i don't see how you tell a guy that his taxes around higher. >> you can't. go to andrea tantaros at twitter. >> bob: fox news alert. november unemployment figure, revised 215. obama recovery is working. one more thing, congratulate speaker john boehner because i think he did show courage in this. republicans are jumping on the guy. tough job to be a speaker. i showed him to be a leader. i give him credit. that will probably hurt him. >> eric: that was two one more things. we usually don't do th
a lot of members, too, signed the no tax pledge that many of you know grover norquist pushed around and used as a threat. you better sign the no tax pledge. my radio show launched yesterday and i had grover on because he said it was a win for republicans. though it was a tax increase it wasn't violation of the pledge. listen. >> la of the of these guys signed your penal. how did you lose the guys? they broke your pledge? >> that is what the president is trying to get them to say to...
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. >> grover norquist had this tweet where he essentially said the bush tax cuts lapsed at midnight, every r voting for the senate bill is cutting taxes and keeping his/her pledge. democrats were vehemently against all these tax cuts because they raise the deficit. these will raise the deficit by about $4 trillion. are you worried last night the deal added too much to the deficit? how come democrats have basically embraced these bush tax cuts from about a decade ago? >> let's look at what the reason was the democrats opposed those 2001 and 2003 tax cuts. it's because they weren't paid for. they blew a massive hole in the deficit, along with the two wars that weren't paid for and the medicare part d drug plan, which was a good thing but was not paid for. we need to go back to pay as you go rules. the republicans when they came in and took the majority back got rid of that requirement. we're for responsible tax cuts that help the middle class. we're not for and neither were the american people as they said in this election when they voted for president obama's reelection, were not for giving
. >> grover norquist had this tweet where he essentially said the bush tax cuts lapsed at midnight, every r voting for the senate bill is cutting taxes and keeping his/her pledge. democrats were vehemently against all these tax cuts because they raise the deficit. these will raise the deficit by about $4 trillion. are you worried last night the deal added too much to the deficit? how come democrats have basically embraced these bush tax cuts from about a decade ago? >> let's look at...
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. >> all of the republicans will hear grover norquist recite over and over, every time they promise spending cuts in exchange for tax hikes, the tax hikes came, the spending cuts never came. >> and how long will the road be in terms of what the subpoenaing cuts might or might not be? that will prolong the uncertainty in the market. and with the ceo conference call in the 6:00 hour, that should be very interesting. will we feel the effect of this in the first quarter earnings and gdp, other economic data points. >> it puts republican caucus in the house in the position of having to decide whether no deal is better than a bad deal. >> you know, melissa, if i could chime in, one thing, you didn't hear the president talking about the debt ceiling, and the treasury secretary says we'll start running up against the debt ceiling on monday. that's a very controversial piece of the whole deal. they are talking about leaving that aside and revisiting it when we run out of the extraordinary measures that the treasury can put in place to keep us from hitting the debt ceiling. >> let's welcome in deutsch
. >> all of the republicans will hear grover norquist recite over and over, every time they promise spending cuts in exchange for tax hikes, the tax hikes came, the spending cuts never came. >> and how long will the road be in terms of what the subpoenaing cuts might or might not be? that will prolong the uncertainty in the market. and with the ceo conference call in the 6:00 hour, that should be very interesting. will we feel the effect of this in the first quarter earnings and...
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norquist and unfortunately the tea party has been distorted. i took a little opportunity today to read about the historic i think 1773 when the tea partiers, boston tea partiers threw tea into the boston harbor. they were fighting for the colonies, for our independence, fighting for america. what are the tea party advocates fighting for now, that's not america. to see our economy troubled by the fact that the markets are nervous about going over this slippery slope. if that doesn't touch your heart on middle class americans seeing their tax bill go up enormously or $109 billion in immediate cuts in places where we probably can't cut. we cut $1.2 trillion and if i can say this one point, can you believe it on this day as we are looking for a solution someone has come up with the idea, i'm not going to raise the debt ceiling unless you give me another $1.2 trillion in cuts in medicare. let's stop the one upsmanship. i'm ready to vote on sunday to make it work and to make it work with a compromise. let's come tocchet and we can do this job. >> all
norquist and unfortunately the tea party has been distorted. i took a little opportunity today to read about the historic i think 1773 when the tea partiers, boston tea partiers threw tea into the boston harbor. they were fighting for the colonies, for our independence, fighting for america. what are the tea party advocates fighting for now, that's not america. to see our economy troubled by the fact that the markets are nervous about going over this slippery slope. if that doesn't touch your...
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and that is because the right has been captured by antitax interest by grover norquist, by people who won't come to the table and have a reasonable conversation about modest tax increases in relationship to modest cuts in spending where the majority of american people are. and so -- >> alexis, let's be honest. >> because the house is acting like bunch of kids. >> the president is backtracking on his deal because all he's concerned about doing is breaking house republicans on this issue, because he wants to get his agenda through before the 2014 election and he feels the best way to do this is make house republicans and john boehner who is now the least popular congressional leader look like bad guys. it's political heater and not good governance. >> heather: we appreciate you joining us. we'll see what happens. >> thank you. >> kelly: preparations are underway for the new year's eve celebration in times square. crews are hard at work putting the finishing touches on some old traditions and a few new ones. a special inscription on this year's ball is just one feature that organizers sa
and that is because the right has been captured by antitax interest by grover norquist, by people who won't come to the table and have a reasonable conversation about modest tax increases in relationship to modest cuts in spending where the majority of american people are. and so -- >> alexis, let's be honest. >> because the house is acting like bunch of kids. >> the president is backtracking on his deal because all he's concerned about doing is breaking house republicans on...
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and republicans who totally grover norquist taxes, they hate them, that is not true. to a degree that kind of disturbs me, actually, the two parties mostly agree on keeping the bush tax cuts. up to $250,000 in income, which is a lot of income. republicans and democrats want to keep all the bush tax cuts. that's way more than 80% of all the bush tax cuts. they agree on all of that, no argument. where they disagree is democrats want to raise taxes on any income over 250,000. and they'll accept at this point 400,000. and republicans, though, this is what people don't always know, republicans want to raise taxes too, they want to raise them on poor people. they want to let the stimulus tax cuts expire. those are tax cuts that are helping poor and middle tax cuts. a family may get $60,000 will see a tax increase of almost $1,000. the white house opposes that tax increase. that is the shape of the disagreement on taxes. democrats want to raise them on the rich, republicans want to raise them on the poor. that is where the fight is happen i happening number four. and i canno
and republicans who totally grover norquist taxes, they hate them, that is not true. to a degree that kind of disturbs me, actually, the two parties mostly agree on keeping the bush tax cuts. up to $250,000 in income, which is a lot of income. republicans and democrats want to keep all the bush tax cuts. that's way more than 80% of all the bush tax cuts. they agree on all of that, no argument. where they disagree is democrats want to raise taxes on any income over 250,000. and they'll accept at...
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but he's got a caucus that does not want to violate the grover norquist pledge. by the way, the debt is a serious problem. and that's why i think the president and many of us were disappointed once again that we didn't get a grand bargain. everything should be on the table. but at least this time there is an outcome that is possible, that will do no harm, and will allow us to continue this debate on how to right size government and get savings in some of our benefit programs. >> all right, congressman peter welch, thank you. it appears at least the ball has been moved a little bit down the field. thank you so much. we appreciate your time. >> thank you. >>> well, forget the politics for a second. up next, find out what the breaking developments mean for the markets tomorrow. and your paycheck. that's right. your paycheck in the coming months. more breaking news continues. stay here. humans. even when we cross our t's and dot our i's, we still run into problems. namely, other humans. which is why at liberty mutual insurance, auto policies come with new car replace
but he's got a caucus that does not want to violate the grover norquist pledge. by the way, the debt is a serious problem. and that's why i think the president and many of us were disappointed once again that we didn't get a grand bargain. everything should be on the table. but at least this time there is an outcome that is possible, that will do no harm, and will allow us to continue this debate on how to right size government and get savings in some of our benefit programs. >> all...
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norquist not to allow any tax revenues whatsoever. meetings with vice president biden and cantor. cantor walked out of those meetings. he's the majority leader in the house. the gang of six, the gang of eight. we had this super committee, and they were doing good things, good things, dealing with entitlements and revenues, and a week before they would report by virtue of statute i get a letter signed by every republican too, bad about the super committee, we're not going to do anything with revenues, so this is not a capsule of a couple of days. this has been going on for years. they cannot cross over the threshold that has been built by grover for vist. people who are rich who make a lot of money, her not opposing raising taxes on them. the only people in america who don't think taxes should be raised on the rich are the republicans who work in this building. any time bhth speaker and the republican leader come to the president and say we've got a deal for you. the president's door is always own, and mine is, too. >> the senate is ba
norquist not to allow any tax revenues whatsoever. meetings with vice president biden and cantor. cantor walked out of those meetings. he's the majority leader in the house. the gang of six, the gang of eight. we had this super committee, and they were doing good things, good things, dealing with entitlements and revenues, and a week before they would report by virtue of statute i get a letter signed by every republican too, bad about the super committee, we're not going to do anything with...
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and the pledge is slowly, grover norquist, anti-tax pledge, which is no way to run a business or the government. revenues are important if you understand a balance sheet. and that thing has haunted us for a long time and is slowly losing. >> krystal ball, the biggest loser. >> mine in part, karl rove, people thought if they didn't like him, he was very smart. he exposed himself to not be very smart on election night over at that other network. >> we only have two people left who may please me by choosing donald trump. alex wagner, the biggest loser of 2012? >> donald trump -- >> correct, correct, you get the ipad. >> i hate to disappoint you, it is shelden addelson -- the house lost. >> steve. >> i want an ipad, but the big loser, the name for generations, the gold standard in public opinion polling. gallup, all of october, on election day said romney has an advantage, going to win this, and people are going to look more skeptically at the gallup polls. >> let's see if silver comes up in the category, biggest winner, again, i'm going to go first, because once again, i couldn't be mor
and the pledge is slowly, grover norquist, anti-tax pledge, which is no way to run a business or the government. revenues are important if you understand a balance sheet. and that thing has haunted us for a long time and is slowly losing. >> krystal ball, the biggest loser. >> mine in part, karl rove, people thought if they didn't like him, he was very smart. he exposed himself to not be very smart on election night over at that other network. >> we only have two people left...
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the truth is, and grover norquist has said this, sort of the high priest of republican economics and the tea party, they want to starve the government. they want to shred the social safety net. they lost the last election. they lost the last century. they'd like to repeal much of the new deal, much of the great society, get rid of hk reform. but secondly, the hypocrisy, and jared is right about this, is extraordinary. where did most of this debt come from? it came from bush's two unfunded wars, from an unfunded medicare prescription drug benefit, from the decision that -- the set of decisions that led to the bush economic collapse in 2008. if you put all that together, that's responsible for most of this debt. and by the way, the people who are now talking about spending cuts and we really have to reduce the size of government were the folks who brought us all that. >> but are you saying that as a political matter they're aware of the concern that exists among their constituents, people who call a talk radio program like mine, and they are using that as a subterfuge to get to what th
the truth is, and grover norquist has said this, sort of the high priest of republican economics and the tea party, they want to starve the government. they want to shred the social safety net. they lost the last election. they lost the last century. they'd like to repeal much of the new deal, much of the great society, get rid of hk reform. but secondly, the hypocrisy, and jared is right about this, is extraordinary. where did most of this debt come from? it came from bush's two unfunded wars,...
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allow their members to observe the grover norquist pledge and not raise taxes, which means they can't vote before midnight tomorrow to raise taxes. they could easily do that when the calendar turns into the next year. they could do that at any point, be consistent with their pledge and kind of walk away with their chins high. again, presumably observing some sort of line that the president supports about tax increases or in that case not having tax cuts for a few of the upper percentage taxpayers. that's something, again, that doesn't violate any republican pledge, so i think as a practical matter, and we heard this when plan "b" was pulled by speaker boehner, the perception is they can't allow themselves to vote for a tax increase. they don't want to get primaried, but come the new year they have an out which allows them to actually cut a deal. mitch mcconnell i think heinz what he says that he wants to get something done because they don't want to see the economy go into a tailspin. they read the same polls that you and i read which is that the president comes out way ahead these da
allow their members to observe the grover norquist pledge and not raise taxes, which means they can't vote before midnight tomorrow to raise taxes. they could easily do that when the calendar turns into the next year. they could do that at any point, be consistent with their pledge and kind of walk away with their chins high. again, presumably observing some sort of line that the president supports about tax increases or in that case not having tax cuts for a few of the upper percentage...
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. >> when ronald reagan was president, grover norquist was in diapers and rush limbaugh was a disk jockey, i think, in st. louis. you have had a hermetically sealed culture grow up on the right in this country that as we saw during the last election, is removed from reality and is extreme in the most egregious way. >> and you don't have to go all the way-- >> it's much further than that. when bill clinton passed that budget deal, he didn't get a single republican vote. and there hasn't been a republican vote for tax increases in 20 years, and if the deal falls apart today-- which i think it probably will-- the reason is there will be no republican votes. even in the senate, much less to the house for a tax increase, which is what they're talking about. >> in the short term there's no political penalty to pay for that, back to your point, i guess, that we re-elected both a democratic president and because-- because of jerry manneddering, so there's no political price to pay so members of congress with vote in the interest of the their constituents and not the best center of the country. >>
. >> when ronald reagan was president, grover norquist was in diapers and rush limbaugh was a disk jockey, i think, in st. louis. you have had a hermetically sealed culture grow up on the right in this country that as we saw during the last election, is removed from reality and is extreme in the most egregious way. >> and you don't have to go all the way-- >> it's much further than that. when bill clinton passed that budget deal, he didn't get a single republican vote. and...
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the truth is, grover norquist is not just a guy. he's a guy who heads a lobby group with very powerful resources. one that uses millions of dollars in funding to get candidates elected and get others defeated. that is not democracy at work. that is lobbying money at work. and pledges like this don't make sense in a dynamic economy. we got to give our elected officials the tools and the leeway to do their jobs properly. and not hamstring them with promises that are made in a vacuum. promises that are made without context. so if members of congress, republicans and in particular, were able to free themselves from norquist's shackles, and take a real look at the merits versus the risks of raising taxes, they would see something interesting. while raising taxes is never ideal, the net effect to the economy of increasing the tax burden only on that portion of one's income that is higher than a quarter of a million dollars, by 4.6 percentage points, would have a negligible effect. that's because the proportion of what you need to spend on
the truth is, grover norquist is not just a guy. he's a guy who heads a lobby group with very powerful resources. one that uses millions of dollars in funding to get candidates elected and get others defeated. that is not democracy at work. that is lobbying money at work. and pledges like this don't make sense in a dynamic economy. we got to give our elected officials the tools and the leeway to do their jobs properly. and not hamstring them with promises that are made in a vacuum. promises...
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grover norquist telling them they never come. they're the unicorn that doesn't exist. >> a lot of republicans at this point will say, you know what? after all of this they may not be saying publicly now, but they'll say let's just take the sequester and at least we'll be cutting some spending and we'll be cutting the actual spending and take that sequester. >> last word. >> i don't disagree with you and jimmy on this point. this is not a deficit reduction deal that will stabilize the debt to gdp ratio and that has to be -- that has to be one of the goals of a broader deal that now we're probably going to be looking for on the other side of the cliff. >> yeah. i don't know. it doesn't seem to be any part of the president's goal. jared, good to see you always. jimmy, you, too. we'll get you guys back in just a few minutes. we'll get you to the roundtable if you haven't had enough yet. what will it mean for banks? new analysis shows that the expiration ever tax cuts will improve bank savings in 2013, by, listen to this, 54%. in othe
grover norquist telling them they never come. they're the unicorn that doesn't exist. >> a lot of republicans at this point will say, you know what? after all of this they may not be saying publicly now, but they'll say let's just take the sequester and at least we'll be cutting some spending and we'll be cutting the actual spending and take that sequester. >> last word. >> i don't disagree with you and jimmy on this point. this is not a deficit reduction deal that will...
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norquist the leader in the anti-tax movement has said that this isn't a tax increase. you're correct, that there are schisms within the gop that did not exist before but that's what a new congress does. and if the focus turns from tax policy to spending i think that you'll find that the republicans will unite. >> yeah, but i think part of the criticism as you know frank, is that here's a republican party that agreed to tax cuts but got no spending cuts and no entitlement reform out of this president, that it wasn't a great deal after all. >> and that's -- and the american people would agree with that. norah, you're correct. and so they're going to come back at this with the debt ceiling and with the budget over the next two and three months and it's going to be up to the president to prove, to demonstrate to the american people that he is serious that this deficit cannot be solved just by take increases, that in the end you've got to get entitlement programs under control and you've got to plan for the future. that's also part of this vote on sandy. you can't spend --
norquist the leader in the anti-tax movement has said that this isn't a tax increase. you're correct, that there are schisms within the gop that did not exist before but that's what a new congress does. and if the focus turns from tax policy to spending i think that you'll find that the republicans will unite. >> yeah, but i think part of the criticism as you know frank, is that here's a republican party that agreed to tax cuts but got no spending cuts and no entitlement reform out of...
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. >> the guy -- the guy -- grover norquist. >> there you go. named after a fuzzy blue sesame street. i have a bonus one for you. some people are going to have problems if they don't get this. which comedian stirred up controversy? >> chris rock. >> yes. the answer is chris rock and the tweet is happy white people's independence day, the slaves weren't free, but i'm sure they enjoyed the fireworks. >> that was on the black level. it's our psychic ability there. >> i literally got a participation sticker. i'm going wear it proudly. that's what i got. >> thank you for playing. when we come back, i'm going to talk about how chick-fil-a broke my heart in 2012. >>> this year was so politicized waffle fries became a statement. >> a little concerned about this issue of the family and how we define the family. we want to encourage our nation that god sets a standard to what a family is. it's not going to come out of washington. we ought to pray for our politicians and the thought leaders. we are out here to sell chicken. >> just trying to sell some chic
. >> the guy -- the guy -- grover norquist. >> there you go. named after a fuzzy blue sesame street. i have a bonus one for you. some people are going to have problems if they don't get this. which comedian stirred up controversy? >> chris rock. >> yes. the answer is chris rock and the tweet is happy white people's independence day, the slaves weren't free, but i'm sure they enjoyed the fireworks. >> that was on the black level. it's our psychic ability there....
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norquist to allow any taxes for revenues whatsoever. we had meetings with the vice president biden and cantor. he walked out of it. he's the majority leader in the house. we had this supercommittee and they were doing good things. good things. dealing with entitlements and revenues and a week before they were to report, by virtue of a statute, i get a letter signed by virtually every republican, too bad about the supercommittee. we're not going to do anything with revenues. >> okay. i think that's a good place to end this. what you're hearing is the history of what has happened to bring us to this point. i want to bring in our congressional correspondent dana bash. dana, i was just sitting here imagining someone turning on their tv thinking, what a these people talking about? and i think i would sort of boil it down to this. when they are talking on the floor, that's never a good sign. they should be talking in a back room. they have gotten nowhere. we are where we are and nobody has agreed on to come up with something. >> reporter: tha
norquist to allow any taxes for revenues whatsoever. we had meetings with the vice president biden and cantor. he walked out of it. he's the majority leader in the house. we had this supercommittee and they were doing good things. good things. dealing with entitlements and revenues and a week before they were to report, by virtue of a statute, i get a letter signed by virtually every republican, too bad about the supercommittee. we're not going to do anything with revenues. >> okay. i...
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norquist. what role do the pledges play in our inability to compromise? >> well, i'm certain it does play a role. i've never signed these pledges because my obligation to the people who elected me and that's the way it should be for each member of congress, because times change. the circumstances change, you have to address the issue at hand. it is important to have extending the tax cuts for especially the middle income but secondly to put spending cuts on the table. we have a large debt problem and i understand as far as the republican position is concerned, so that does have credibility, and we have to come to the table on both of those issues, but i think more than anything else, what is deeply troubling is that you can't get congress and the president to reach any accord on anything. we can't even do routine business, let alone the matters that could affect the future of this country. >> olympia snowe you and what you represent will be missed in the senate. senator olympia snowe republican
norquist. what role do the pledges play in our inability to compromise? >> well, i'm certain it does play a role. i've never signed these pledges because my obligation to the people who elected me and that's the way it should be for each member of congress, because times change. the circumstances change, you have to address the issue at hand. it is important to have extending the tax cuts for especially the middle income but secondly to put spending cuts on the table. we have a large debt...
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norquist, president of americans for tax reform. norquist's pledge, signed by almost all republicans in congress, forbids signatories for raising taxes ever, under any circumstances. things come to a head in the summer of 2011. republicans demand the government reduce its deficit as a condition for raising the nation's debt ceiling. without a deal, the u.s. would lose its ability to borrow money. both democrats and republicans deploy scorched earth tactics that nearly shut down the government and ultimately cost america its aaa credit rating for the first time in history. but in a last-minute compromise, both sides agree to $1 trillion in spending cuts up front and another $1.2 trillion in cuts to be decided by a special congressional super committee. but a poison pill was attached. if the super committee can't reach a deal, automatic across-the-board cuts, known as the sequester, would go into effect, starting january 2013. at the exact moment when those bush tax cuts extended for two years, if you remember, would expire. so the po
norquist, president of americans for tax reform. norquist's pledge, signed by almost all republicans in congress, forbids signatories for raising taxes ever, under any circumstances. things come to a head in the summer of 2011. republicans demand the government reduce its deficit as a condition for raising the nation's debt ceiling. without a deal, the u.s. would lose its ability to borrow money. both democrats and republicans deploy scorched earth tactics that nearly shut down the government...
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it doesn't surprise me grover norquist gave ground cover to what some of the house republicans did. it doesn't surprise me that the administration, the vice president, the president did the easy thing. the only thing i think is going to be surprising is how much of a battle that probably gets best record in 6-8 weeks regarding the debt ceiling. there has to be some type of an end game for sanity. i think everything that's happened thus far doesn't surprise me. i guess the most surprising thing i've seen in the last week is why new york fired the general manager instead of the coach. watching politicians all slap each other on the back while the country slips into a grecian like formula isn't surprising. >> are you surprised the market so far in looking at the futures has taken such a positive outlook on this? >> i don't know. to me, the fair value adjustments in the opening is far from a cohuge move in my opinion. here we are a move in the fixed income markets because of the move in stocks. i caution everybody to wait until the close because i think some of the intraday outside nois
it doesn't surprise me grover norquist gave ground cover to what some of the house republicans did. it doesn't surprise me that the administration, the vice president, the president did the easy thing. the only thing i think is going to be surprising is how much of a battle that probably gets best record in 6-8 weeks regarding the debt ceiling. there has to be some type of an end game for sanity. i think everything that's happened thus far doesn't surprise me. i guess the most surprising thing...
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if grover norquist was here, he would say the greatest thing we're able to promise people is no further tax rises. it was the major mistake that bush sr. made when he said read my lips, no new taxes and then broke that pledge. what will you then say at the next election when this issue comes up? >> again, i think i held taxes down to 99% of the people. if it went over the cliff, we would have had to deal with it and then had a tax cut. i think just plain in terms of terminology with each other, but the bottom line, 99% of americans are going to get a tax cut. $730 billion. again, wasn't exactly the way i'd like to see it go down because i'd like to see a spending aspect of it. 49 out of 50 governors, that's what i'm going to push for, but we'll have that spending battle, which is the real issue going forward, but we did bring certainty to some of the tax code. i know a lot of small business people are excited about that. >> it is the real issue, congressman, and it could be the more vitriolic battle on capitol hill. do you feel by siding with the democrats this time around that somehow,
if grover norquist was here, he would say the greatest thing we're able to promise people is no further tax rises. it was the major mistake that bush sr. made when he said read my lips, no new taxes and then broke that pledge. what will you then say at the next election when this issue comes up? >> again, i think i held taxes down to 99% of the people. if it went over the cliff, we would have had to deal with it and then had a tax cut. i think just plain in terms of terminology with each...
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a few weeks ago, a lot of people said, okay, grover norquist, we are going to say, if we have to make this to get our country through the toughest one of the toughest times, we will vote for tax increases. >> and it didn't even come to a vote in the house, because they couldn't approve boehner's plan. >> the vote in the house -- >> you're making my case. >> that was a ridiculous plan. >> they can't even get it to a vote in the house because they don't even have consensus on it. president obama has proposed something. look we have agreement in both parties that we don't want taxes to go up at least for the people who make 250,000 dollars or less. we want to do something about the amt. both sides agree with that. let us at least pass a bill to deal with that. the senate passed a bill back in july. why can't the house just confirm that? >> oh, come on because the senate is a joke. they haven't even been able to pass a budget in over three years. come on. >> the senate passed a deal in july that dealt with the amt. it dealt with dividends and capital gains and it dealt with the, the funda
a few weeks ago, a lot of people said, okay, grover norquist, we are going to say, if we have to make this to get our country through the toughest one of the toughest times, we will vote for tax increases. >> and it didn't even come to a vote in the house, because they couldn't approve boehner's plan. >> the vote in the house -- >> you're making my case. >> that was a ridiculous plan. >> they can't even get it to a vote in the house because they don't even have...